A comparison of pay-after-you-pass trading challenges, including upfront costs, activation fees, evaluation rules and funded-stage conditions.

About 14% of traders passed a prop firm challenge in a dataset covering more than 300,000 accounts across 10 firms, according to figures from FPFX Tech reported by Finance Magnates. The figure is a historical sample, not a universal pass rate, but it highlights why the cost of a failed attempt matters. With conventional challenges, traders generally pay the full entry fee before they know whether they will pass. Pay-after-you-pass programs reduce that initial outlay by deferring most of the fee until the evaluation is complete.

LEVERAGED’s Turbo challenge starts at $8.88, with the remaining fee due only after a pass. Its combined cost is $85 for a $10,000 account and $549 for a $100,000 account. Among the one-step programs compared here, those are the lowest combined totals at the two account sizes examined. Maven Trading has a lower $5 entry fee but higher total costs; FTUK Flex also starts at $9 and has a 4% target, while The5ers Bootcamp offers a $100,000 tier for $300 across three evaluation stages.

The right option depends on more than the advertised starting price. Traders should compare the full cost after passing, the amount lost after a failed attempt, drawdown rules, evaluation targets, payout conditions and country eligibility. All prices and program details below were checked on November 2, 2026, and may change.

How this comparison works

This comparison focuses on programs where most of the fee is deferred until the trader passes an evaluation. That is different from a conventional challenge in which the trader pays the full fee upfront and may receive a refund only after becoming eligible for a reward. For example, FTMO says its 2-Step Challenge fee is refunded with the first eligible reward withdrawal, while its 1-Step Challenge fee is not refundable; see the firm’s official fee policy. FTMO’s fee and refund policy

To make the comparison more useful, the table shows both the amount paid to start and the combined cost if the trader passes. It also lists the number of evaluation phases and the headline profit target. Account balances are simulated allocations, not cash deposits or money transferred to the trader. The term “funded” is used by providers for the post-evaluation account stage; it should not be taken to mean that every program involves live-market trading.

Pay-after-you-pass prop firms compared

Notes: Totals include the starting payment. LEVERAGED’s $8.88 platform fee is credited toward the total program fee. Maven lists the $5 entry payment separately from the remaining fee. FTUK totals are estimates based on its $9 entry fee and published funded-account reset fees, which it says match activation fees; confirm the exact activation amount at checkout. Prices are in US dollars and exclude any applicable taxes, conversion charges, discounts or optional add-ons. Goat Funded Trader’s Pay Later page is currently marked closed to new purchases.

1. LEVERAGED Turbo: Lowest one-step total and a 30-day activation window

LEVERAGED, operated by GetLEVERAGED Ltd, offers Turbo as a single-stage simulated trading evaluation. The entry payment is $8.88. The evaluation has a 6% profit target, a 3% daily loss limit and a 6% trailing maximum-loss limit. There is no evaluation time limit. Account sizes range from $10,000 to $200,000, subject to platform and geographic availability.

The total fee is $85 for a $10,000 account: $8.88 to start and $76.12 after passing. For a $100,000 account, the total is $549: $8.88 upfront and $540.12 after passing. Traders have 30 days after passing to pay the activation amount. If they miss that deadline, the offer expires and they must complete a new evaluation to qualify again.

The post-evaluation stage lists an 80% reward share, a 20% consistency requirement, the same 3% daily and 6% trailing loss limits, at least three profitable days of 0.5% or more, and a 14-day payout cycle. The program supports MetaTrader 5 and cTrader. The trailing loss limit follows the account’s high-water mark until it reaches the initial balance, after which it locks at that level. These conditions are important: a low total fee does not remove the need to manage a trailing drawdown or meet the payout rules.

Turbo is a strong price option for traders who want a one-step evaluation and time to arrange the activation payment. Its trade-offs include a higher 6% target than the 4% targets offered by Maven and FTUK, a trailing rather than static maximum-loss rule, and geographic exclusions. LEVERAGED’s terms list the United States and Israel among restricted territories, along with other jurisdictions. Check the current terms and restricted-territory list before purchasing.

2. Maven Trading: $5 entry and a static evaluation drawdown

Maven Trading’s Buy Now, Pay Later challenge starts with a $5 payment. Its listed remaining fee is $117 for a $10,000 account and $589 for a $100,000 account, bringing the combined totals to $122 and $594. The one-phase evaluation has a 4% profit target and a 10% static maximum drawdown, with no daily loss limit during evaluation. Maven also allows news trading during the evaluation.

The funded-stage rules differ from the evaluation rules. Maven lists an 8% maximum loss, a 4% daily loss limit, a 20% consistency requirement and an 80% profit split. The remaining fee is refundable on the third withdrawal, according to the product page. Maven also notes that the product may not be available in every region; its page can display a regional availability notice, so traders should check eligibility before relying on the advertised price. Details are available on the official Buy Now, Pay Later page and Maven’s FAQ.

Maven may appeal to traders who prioritize a low initial payment, a lower profit target and a static evaluation drawdown. Its combined fee is higher than LEVERAGED Turbo’s at both account sizes compared here. The 10% static evaluation drawdown is more generous in percentage terms than Turbo’s 6% trailing limit, but the funded-stage rules change after passing.

3. FTUK Flex Challenge: 4% target and flexible trading permissions

FTUK Flex is a one-step pay-after-you-pass evaluation advertised from $9 upfront. It has a 4% profit target, a 5% daily drawdown limit and a 6% trailing maximum drawdown, with no maximum evaluation period. FTUK’s published terms allow news trading and weekend positions. The evaluation requires at least one trading day.

FTUK’s help centre lists funded-account reset fees of $98 for a $10,000 account and $672 for a $100,000 account, and says reset fees match activation fees. Adding the $9 starting payment produces estimated totals of $107 and $681. Because the final activation amount can depend on the account and checkout configuration, confirm the figure before purchasing.

The Flex profit share starts at 60% and can increase to 90% through the scaling plan; it is not a flat 80% for every trader. Payouts can be requested on demand, subject to the funded-account consistency requirement. FTUK also describes an Account Protector that can close open positions if floating losses exceed a specified threshold, and it prohibits strategies including martingale, tick scalping, arbitrage, grid trading and high-frequency trading. Review the official Flex Challenge rules and fee schedule before entering.

FTUK may suit traders who value a lower 4% target, news trading and weekend holding more than the lowest combined fee. Its strategy restrictions and automated risk controls should be checked carefully against the trader’s approach.

4. The5ers Bootcamp: Lower $100K total, but three phases

The5ers Bootcamp uses a three-stage evaluation rather than a one-step challenge. Its published $100,000 tier costs $95 to start and a further $205 after successful completion, for a total of $300. The $20,000 tier totals $72, while the $250,000 tier totals $575. The $100,000 option is less expensive overall than the one-step $100,000 programs compared here, but traders must complete three evaluation phases before moving to the post-evaluation account.

The stages use successive profit targets and loss limits, with the evaluation conducted on a demo account. The5ers states that the program has no time limit for passing. Its published program information describes the Bootcamp path and payment structure; see the Bootcamp program page and official payment breakdown.

Bootcamp may suit patient traders who want to minimize the total activation cost on a $100,000 tier and are comfortable with a longer, three-stage route. It should not be presented as a one-step alternative. The displayed $100,000 account tier also does not mean the trader starts every evaluation phase with the full $100,000 balance.

What happened to Goat Funded Trader’s Pay Later option?

Goat Funded Trader previously advertised a Pay Later program with a $5 entry payment, but its official Pay Later page currently says the program is closed. The firm’s help centre still contains information about the model and rules for existing participants. Because new customers cannot currently purchase the program through its main listing, it is excluded from the available alternatives in this comparison. Existing participants should refer to the terms that applied when they purchased their accounts. See the Pay Later program page.

Paying after passing is not the same as receiving a fee refund

The two models can look similar in marketing but expose traders to different upfront costs. In a pay-after-you-pass program, the trader pays a smaller entry amount and owes the larger fee only after passing the evaluation. In a refundable-fee challenge, the trader pays the full amount before starting and may receive it back only after meeting later reward or payout conditions. FTMO, for example, says it refunds the fee for its 2-Step Challenge with the first eligible reward withdrawal, but does not refund the fee for its 1-Step Challenge. Traders should check when a refund is triggered and whether it is automatic or conditional.

How to choose a pay-after-you-pass prop firm

Start by comparing the full cost if you pass with the amount you could lose if you fail. A $5 entry fee can still lead to a higher total bill than an $8.88 entry once the activation payment is included. Next, compare the profit target, daily loss limit and maximum drawdown. A static drawdown and a trailing drawdown behave differently, and the distinction can matter more than a small price difference.

Then review the post-evaluation rules. Consistency requirements, minimum profitable days, payout frequency, reward share and strategy restrictions may change after passing. Finally, confirm that the firm accepts traders from your jurisdiction, supports your preferred platform and instruments, and gives you enough time to pay the activation fee.

Many retail prop-firm programs use simulated trading accounts rather than live brokerage accounts. A displayed account balance is not a cash deposit or a guarantee of access to real market capital. Passing an evaluation or receiving a simulated funded account does not guarantee that a trader will qualify for or receive a reward.

Frequently asked questions

What does “pay after you pass” mean in prop trading?

It means paying a smaller amount to begin an evaluation and paying the larger activation fee only if the evaluation is passed. The initial payment is generally at risk if the trader fails, so it is not free access.

Which one-step pay-after-you-pass firm is cheapest overall?

Among the one-step programs compared here, LEVERAGED Turbo has the lowest combined published fee at the selected account sizes: $85 for a $10,000 account and $549 for a $100,000 account. Prices and availability can change, so check the provider’s checkout before purchasing.

Which firms let traders start for $5?

Maven Trading currently lists a $5 entry payment for its Buy Now, Pay Later challenge, subject to regional availability. Goat Funded Trader’s previously advertised $5 Pay Later program is currently marked closed to new purchases.

Is The5ers Bootcamp cheaper than LEVERAGED Turbo?

For the published $100,000 tiers, yes. The5ers Bootcamp totals $300, compared with $549 for LEVERAGED Turbo. They are different products: Bootcamp requires three evaluation stages, while Turbo has one.

Are pay-after-you-pass prop firms legitimate?

The payment structure alone does not establish whether a firm is reliable. Before paying, review the legal entity, jurisdictional restrictions, trading rules, payout conditions, complaint history and how the firm describes its trading environment. Many retail prop programs use simulated accounts, and rewards remain subject to contract conditions.

How long do traders have to activate after passing?

It depends on the provider. LEVERAGED Turbo gives traders 30 days to pay the activation fee after passing. Other firms have different deadlines, so check the applicable rules before starting.

Final thoughts

The best pay-after-you-pass prop firm depends on what a trader values most: a low initial cost, the lowest total fee, a simple evaluation structure or more flexible trading rules. LEVERAGED Turbo has the lowest combined fee among the one-step $10,000 and $100,000 programs compared here, and gives traders 30 days to arrange activation. Maven starts at $5 and uses a static evaluation drawdown; FTUK offers a 4% target and news and weekend trading; The5ers Bootcamp has the lowest $100,000 total in this comparison, but requires three stages.

No single option is best for every trader. Compare the full fee and the rules that apply after passing, check geographic eligibility, and confirm all prices at checkout before committing.

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